Monthly market wrap MONTHLY MARKET WRAP Richmond Condos · May 2026 Richmond held steady in May: the key market signals were mixed. Median sale price $435K ▲ +1.2% vs Apr Time to pending 47d ▼ 51 days faster vs Apr Sold over asking 33% ▼ -29 pts vs Apr Active listings 36 ▲ +5.9% vs Apr Generated by ListingCopilot.io Source: Redfin housing market data
Sale price vs asking SALE PRICE VS ASKING Richmond Condos · May 2026 33% of Richmond condos sold over asking, so pricing right matters more than ever. 100.6% average sale price vs. asking price Sold over asking 33% vs. a year ago -17 pts 100.1% 99.5% 98.8% Sold at asking price 100.6% Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Are you an agent? Create a branded market page for free like this for your own cities.
Try ListingCopilot → The negotiation gap THE NEGOTIATION GAP Richmond Condos · May 2026 The typical Richmond condo closes +0.6% above its asking price. -$187K median sale price minus asking price Median asking price $622K Median sale price $435K $641K $540K $439K Sold Asking Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Median sale price MEDIAN SALE PRICE Richmond Condos · May 2026 Richmond condo values edged up +2.4% year over year. $435K median sale price Year over year +2.4% Homes sold last month 12 $553K $490K $427K $435K Jun 2019 Dec 2022 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Time to sell TIME TO SELL Richmond Condos · May 2026 Richmond condos are taking 47 days to sell, 9 days faster than last year, so patience and pricing win. 47 days median time to pending Gone within two weeks 38% vs. a year ago 9 days faster 111d 74d 37d 47d Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data
Active listings ACTIVE LISTINGS Richmond Condos · May 2026 Richmond inventory is up 9.1% year over year, a steadier supply picture for condos. 36 active listings Year over year +9.1% Months of supply 3.0 40 32 24 36 Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Buying or selling in Richmond? Jason tracks this market every month and can give you a local read before your next move.
Price cuts PRICE CUTS Richmond Condos · May 2026 1 in 3 Richmond listings cut its asking price last month, up 6 pts from a year ago. 31% of active listings cut their asking price vs. a year ago +6 pts Active listings 36 32% 27% 23% 31% Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data The two-speed market THE TWO-SPEED MARKET Richmond Condos · May 2026 Richmond moves at two speeds: 38% of condos were gone inside two weeks while the rest sat longer. 38% of listings went pending within two weeks Median time to pending 47 days vs. a year ago +15 pts 42% 27% 12% Half of listings 38% Jun 2024 Jun 2025 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data Best month to buy BEST MONTH TO BUY Richmond Condos · May 2026 December is historically Richmond's calmest month for buyers: 2.8 pts less over-asking than February. December historically the calmest month for buyers Buyer's edge vs February -2.8 pts Years of Redfin data 11+ Yearly average J F M A M J J A S O N D -1.7 pts Bars over/under-asking vs the yearly average Line price seasonalityGenerated by ListingCopilot.io Source: Redfin housing market data 10-year price growth WAITING HAS A PRICE Richmond Condos · May 2026 Richmond condo values are down -18% from 10 years ago. -18% median sale price growth since 2016 Median price in 2016 $529K Average gain per year -1.9% $514K $463K $412K $435K May 2016 May 2021 May 2026 Generated by ListingCopilot.io Source: Redfin housing market data For agents only
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